EXHIBIT 20.1
Monthly Servicing Report
Capital Auto Receivables Asset Trust 2003-1
March 2003
Original Inputs
| Total Pool Balance | $ | 3,300,048,387.48 | ||||||
| Class A-1a Notes Balance | $ | 390,000,000.00 | ||||||
| Class A-1a Notes Rate | 1.850 | % | ||||||
| Class A-1b Notes Balance | $ | 786,000,000.00 | ||||||
| Class A-1b Notes Rate | One Month LIBOR+.05% | |||||||
| Class A-2a Notes Balance | $ | 242,000,000.00 | ||||||
| Class A-2a Notes Rate | 2.270 | % | ||||||
| Class A-2b Notes Balance | $ | 350,000,000.00 | ||||||
| Class A-2b Notes Rate | One Month LIBOR+.06% | |||||||
| Class A-3a Notes Balance | $ | 400,000,000.00 | ||||||
| Class A-3a Notes Rate | 2.750 | % | ||||||
| Class A-3b Notes Balance | $ | 528,000,000.00 | ||||||
| Class A-3b Notes Rate | One Month LIBOR+.09% | |||||||
| Class A-4a Notes Balance | $ | 172,600,000.00 | ||||||
| Class A-4a Notes Rate | 3.100 | % | ||||||
| Class A-4b Notes Balance | $ | 150,000,000.00 | ||||||
| Class A-4b Notes Rate | One Month LIBOR+.12% | |||||||
| Class B Certificates Balance | $ | 93,444,888.51 | ||||||
| Class B Certificates Rate | One Month LIBOR+.47% | |||||||
| Reserve Account Deposit | $ | 46,680,673.33 | ||||||
Part I. Collections | ||||||||
| Receipts During the Period | $ | 125,228,377.07 | ||||||
| Principal on Repurchased Contracts | 8,449,376.40 | |||||||
| Schedule and Simple Interest Payments Advanced | 214,301.28 | |||||||
| Schedule Principal Advanced | 221,307.18 | |||||||
| Total Collections For the Period | $ | 134,113,361.93 | ||||||
| Beginning Pool Aggregate Principal Balance | $ | 3,304,543,873.37 | ||||||
| Ending Pool Aggregate Principal Balance | $ | 3,306,374,419.63 | ||||||
| Beginning Aggregate Discounted Principal Balance | $ | 3,112,044,888.51 | ||||||
| Ending Aggregate Discounted Principal Balance | $ | 3,112,044,888.51 | ||||||
Part II. Distributions to Noteholders and Certificateholders | ||||||||
| Total Collections | $ | 134,113,361.93 | ||||||
| Plus: Reserve Account Draw | — | |||||||
| Plus: Net Amount Due From Swap Counterparty | — | |||||||
| Less: Total Servicing Fee | 5,507,573.12 | |||||||
| Less: Net Amount Due to Swap Counterparty | 1,297,016.02 | |||||||
| Less: Monthly Interest Due to Noteholders & Certificateholders | 4,525,105.24 | |||||||
| Less: Reinvestment in New Receivables — Purchase Price | 113,520,452.28 | |||||||
| Less: Principal Due to Noteholders | — | |||||||
| Less: Principal Due to Certificateholders | — | |||||||
| Less: Reserve Account Deposit | 57.01 | |||||||
| Less: Accumulation Account Deposit | 33,223.31 | |||||||
| Equals Reserve Fund Excess to be released to CARI | $ | 9,229,934.95 | ||||||
Monthly Servicing Report
Capital Auto Receivables Asset Trust 2003-1
March 2003
| Per $1000 of | ||||||||
| Original Principal | ||||||||
| Class A-1a Notes Distributable Amount | ||||||||
| Monthly Interest | $ | 601,250.00 | 1.541667 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 601,250.00 | ||||||
| Class A-1b Notes Distributable Amount | ||||||||
| Monthly Interest | $ | 842,111.67 | 1.071389 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 842,111.67 | ||||||
| Class A-2a Notes Distributable Amount | ||||||||
| Monthly Interest | $ | 457,783.33 | 1.891667 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 457,783.33 | ||||||
| Class A-2b Notes Distributable Amount | ||||||||
| Monthly Interest | $ | 377,805.56 | 1.079444 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 377,805.56 | ||||||
| Class A-3a Notes Distributable Amount | ||||||||
| Monthly Interest | $ | 916,666.67 | 2.291667 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 916,666.67 | ||||||
| Class A-3b Notes Distributable Amount | ||||||||
| Monthly Interest | $ | 582,706.67 | 1.103611 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 582,706.67 | ||||||
| Class A-4a Notes Distributable Amount | ||||||||
| Monthly Interest | $ | 445,883.33 | 2.583333 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 445,883.33 | ||||||
| Class A-4b Notes Distributable Amount | ||||||||
| Monthly Interest | $ | 169,166.67 | 1.127778 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 169,166.67 | ||||||
| Class B Certificates Distributable Amount | ||||||||
| Monthly Interest | $ | 131,731.34 | 1.409722 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 131,731.34 | ||||||
| Total Servicing Fee | $ | 5,507,573.12 | 1.668937 | |||||
Part III. Reinvestment in New Receivables
| Principal Distributable Amount | $ | 113,450,183.70 | ||
| Plus: Accumulation Amount | 103,491.89 | |||
| Equals: Reinvestment Amount | $ | 113,553,675.59 | ||
| Additional Receivables Discounted Principal Balance | $ | 113,520,452.28 | ||
| Remaining Amount | $ | 33,223.31 | ||
| (to be deposited in the Accumulation Account) | ||||
Monthly Servicing Report
Capital Auto Receivables Asset Trust 2003-1
March 2003
Part IV. Payment Ahead and Advances
Payment Ahead Servicing Account | ||||||||
| Beginning Payment Ahead Balance | $ | 1,916,763.03 | ||||||
| Less: Payments Applied | 367,938.56 | |||||||
| Current Period Payments Ahead Received | 744,406.64 | |||||||
| Ending Payment Ahead Balance | $ | 2,293,231.11 | ||||||
Advance Account | ||||||||
| Beginning Outstanding Unreimbursed Scheduled Principal and Interest Advances | $ | 653,961.45 | ||||||
| Beginning Outstanding Unreimbursed Simple Interest Advances | $ | — | ||||||
| Scheduled Principal and Interest Advances | 254,850.96 | |||||||
| Simple Interest Advances | 180,757.50 | |||||||
| Reimbursement of Previous Scheduled Principal and Interest Advances | 372,220.48 | |||||||
| Reimbursement of Previous Simple Interest Advances | — | |||||||
| Ending Outstanding Unreimbursed Scheduled Principal and Interest Advances | $ | 536,591.93 | ||||||
| Ending Outstanding Unreimbursed Simple Interest Advances | $ | 180,757.50 | ||||||
Part V. Balances & Principal Factors
| Beginning of Period | End of Period | ||||||||
| Total Pool Balance | $ | 3,304,543,873.37 | $ | 3,306,374,419.63 | |||||
| Total Pool Factor | 1.0013622 | 1.0019170 | |||||||
| Class A-1a Notes Balance | $ | 390,000,000.00 | $ | 390,000,000.00 | |||||
| Class A-1a Notes Principal Factor | 1.0000000 | 1.0000000 | |||||||
| Class A-1b Notes Balance | $ | 786,000,000.00 | $ | 786,000,000.00 | |||||
| Class A-1b Notes Principal Factor | 1.0000000 | 1.0000000 | |||||||
| Class A-2a Notes Balance | $ | 242,000,000.00 | $ | 242,000,000.00 | |||||
| Class A-2a Notes Principal Factor | 1.0000000 | 1.0000000 | |||||||
| Class A-2b Notes Balance | $ | 350,000,000.00 | $ | 350,000,000.00 | |||||
| Class A-2b Notes Principal Factor | 1.0000000 | 1.0000000 | |||||||
| Class A-3a Notes Balance | $ | 400,000,000.00 | $ | 400,000,000.00 | |||||
| Class A-3a Notes Principal Factor | 1.0000000 | 1.0000000 | |||||||
| Class A-3b Notes Balance | $ | 528,000,000.00 | $ | 528,000,000.00 | |||||
| Class A-3b Notes Principal Factor | 1.0000000 | 1.0000000 | |||||||
| Class A-4a Notes Balance | $ | 172,600,000.00 | $ | 172,600,000.00 | |||||
| Class A-4a Notes Principal Factor | 1.0000000 | 1.0000000 | |||||||
| Class A-4b Notes Balance | $ | 150,000,000.00 | $ | 150,000,000.00 | |||||
| Class A-4b Notes Principal Factor | 1.0000000 | 1.0000000 | |||||||
| Class B Certificates Balance | $ | 93,444,888.51 | $ | 93,444,888.51 | |||||
| Class B Certificates Principal Factor | 1.0000000 | 1.0000000 | |||||||
Monthly Servicing Report
Capital Auto Receivables Asset Trust 2003-1
March 2003
Part VI. Reserve Account
| Per $1000 of | ||||||||
| Original Principal | ||||||||
| Beginning Reserve Account Balance | $ | 46,681,183.13 | ||||||
| Draw for Servicing Fee | — | — | ||||||
| Draw for Class A-1 Notes Distributable Amount | — | — | ||||||
| Draw for Class A-2 Notes Distributable Amount | — | — | ||||||
| Draw for Class A-3 Notes Distributable Amount | — | — | ||||||
| Draw for Class A-4 Notes Distributable Amount | — | — | ||||||
| Draw for Class B Certificates Distributable Amount | — | — | ||||||
| Additions to Reserve Account (for Accumulation Account) | 57.01 | — | ||||||
| Additions to Reserve Account | — | — | ||||||
| Releases from Reserve Account | — | — | ||||||
| Ending Reserve Account Balance | $ | 46,681,240.14 | ||||||
| Reserve Account Floor | $ | 23,340,336.66 | ||||||
| Early Amortization Trigger: | ||||||||
| Reserve Account Balance is less than the Specified Reserve Account Balance for Two Consecutive Months | ||||||||
| Preceding Collection Period | ||||||||
| Specified Reserve Account Balance | $ | 46,681,010.62 | ||||||
| Reserve Account Balance | $ | 46,681,010.62 | ||||||
| Current Collection Period | ||||||||
| Specified Reserve Account Balance | $ | 46,681,183.13 | ||||||
| Reserve Account Balance | $ | 46,681,183.13 | ||||||
Part VII. Accumulation Account | ||||||||
| Beginning Accumulation Account Balance | $ | 103,491.89 | ||||||
| Accumulation Account Interest | 172.51 | |||||||
| Release of Accumulated Balance | 103,664.40 | |||||||
| Deposit to Accumulation Account | 33,223.31 | |||||||
| Ending Accumulation Account Balance | $ | 33,223.31 | ||||||
| Early Amortization Trigger: | ||||||||
| Accumulation Account exceeds 1.00% of the Initial Aggregate Discounted Principal Balance | ||||||||
| Accumulation Account as a % of Initial Aggregate Discounted Principal Balance | 0.0011 | % | ||||||
Part VIII. Carryover Shortfall | ||||||||
| Per $1000 of | ||||||||
| Original Principal | ||||||||
| Noteholders’ Interest Carryover Shortfall | $ | — | — | |||||
| Noteholders’ Principal Carryover Shortfall | $ | — | — | |||||
| Certificateholders’ Interest Carryover Shortfall | $ | — | — | |||||
| Certificateholders’ Principal Carryover Shortfall | $ | — | — | |||||
Part IX. Charge Off and Delinquency Rates
| Charge Off Rate | Average Receivables | Credit Repurchases | Loss Rate | |||||||||
| March | $ | 3,242,431,401.78 | $ | 507,613.62 | 0.187864 | |||||||
| February | $ | 3,245,071,999.67 | $ | 191,337.94 | 0.070755 | |||||||
| January | $ | 3,195,522,443.59 | $ | 43,840.59 | 0.016463 | |||||||
| Three Month Average Loss Rate | 0.091694 | |||||||||||
| Delinquency Rate | Total Accounts | Accounts over 60 | % Delinquent | |||||||||
| March | 173,120 | 273 | 0.157694 | |||||||||
| February | 170,048 | 248 | 0.145841 | |||||||||
| January | 162,801 | 276 | 0.169532 | |||||||||
| Three Month Average Delinquency Rate | 0.157689 | |||||||||||
